Improving Cash Flow - Tip #11 of 18: Managing Change Orders From Initiating Event through Execution, Billing and Receipt of Payment. A well managed change order process (https://dbmgt.co/changes) will have a hugely positive impact on customer satisfaction, profitability and cash flow. A poorly managed process will negatively impact all three sometimes impacting cash for years if it goes into a claim situation. > Map out the change management process including the specific people who are directly and indirectly involved on each project. The diagram shown is a simple one - expand it in more detail like you did for cash flow (https://dbmgt.co/2S1OBjr) because the processes are interrelated. > Ensure that your contract (https://dbmgt.co/2PGRZyw) supports a fair change management process and that everyone on your project team knows what the requirements are. > Build relationships at all levels (https://dbmgt.co/2OArxKK) to support the change management process. > Make sure your Schedule-of-Values (SOV -https://dbmgt.co/2yQwdBk) can easily integrate change orders from the time they are identified. > Remember that great negotiating (https://dbmgt.co/2ojMud5) skills will make a huge difference with change management.
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